v2.4.0.6
INCOME TAXES (Tables)
 6 Months Ended
Sep. 30, 2012
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
(a) Income tax expenses are comprised of the following:

 

    Three months ended
September 30,		     Six months ended
September 30,		  
    2012     2011     2012     2011  
    US$’000     US$’000     US$’000     US$’000  
                         
Current taxes arising in the PRC:                                
Corporate income tax     -       660       -       695  
                                 
Deferred taxes arising in the PRC:                                
Benefit of tax loss recognized     -       (129 )     -       (613 )
                                 
      -       531       -       82  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
(b) Reconciliation from the expected income tax expenses calculated with reference to the statutory tax rate in the PRC of 25% (2011: 25%) is as follows:

 

    Three months ended
September 30,		     Six months ended
September 30,		  
    2012     2011     2012     2011  
    US$’000     US$’000     US$’000     US$’000  
                         
Expected income tax expenses     (7,633 )     355       (10,256 )     (465 )
Effect on tax incentives / holiday     2,793       93       3,279       415  
Unrecognized tax losses and temporary difference     4,988       -       6,853       -  
Others     (148 )     83       124       132  
                                 
Income tax expenses     -       531       -       82  

 
Schedule Of Deferred Tax Liabilities [Table Text Block]
(c) Components of deferred tax liabilities were as follows:

 

    As of
September 30,		     As of
March 31,		  
    2012     2012  
    US$’000     US$’000  
                 
Withholding tax on undistributed earnings of a PRC subsidiary     460       460  
Schedule Of Deferred Tax Assets [Table Text Block]
(d) Components of deferred tax assets were as follows:

 

    As of
September 30,		     As of
 March 31,		  
    2012     2012  
    US$’000     US$’000  
             
Depreciation and impairment     240       1,036  
Provisions and accruals     3,498       623  
Tax losses carried forward     8,054       3,280  
                 
      11,792       4,939  
Valuation allowance     (11,792 )     (4,939 )
                 
Net deferred tax assets     -       -